(Last Updated November 19, 2020 2:20 GMT)
At the time of this writing, GBPUSD’s rate is down -12 pips (-0.09%) from the hour prior. GBPUSD has seen its price go down 9 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPUSD is up 24 pips (0.18%) since the day prior (opening today near 1.3267), marking the 4th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, GBPUSD ranked 9th the day prior in terms of percentage price change. The price chart of GBPUSD below illustrates.
GBPUSD Technical Analysis
The first thing we should note is that the current price of GBPUSD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days GBPUSD’s price has gone up 9 them.